Regulation 12 F1

(1)

In the event that a contract does not expressly contain the elements required by Regulation 11, then it is an implied term of that contract that any undertaking that is a party to that contract shall comply with the provisions of—

(a)

Regulations 3, 4 and 5, in respect of public undertakings;

(b)

Regulations 6, 7 and 8, in respect of an undertaking required to maintain separate accounts; and

(c)

Regulation 9 in respect of public undertakings operating in the manufacturing sector.

(2)

Any term of a contract is void to the extent that it purports to exclude the application of paragraph (1).

Annotations

Textual amendments

F1: Reg. 12 substituted (9.6.2011) by virtue of The Financial Transparency (EC Directive) (Amendment) Regulations 2011 (S.I. 2011/1275), regs. 1, 2(3)